Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.22.4
Accumulated Other Comprehensive Income
3 Months Ended
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income
The changes in AOCI by component, net of tax, for the three-month periods ended December 31, 2022 and 2021 were as follows:
     Post-retirement benefit plans Currency translation adjustment Cash Flow Hedges Total
Attributable to Matthews:            
Balance, September 30, 2022   $ 5,182  $ (203,310)   $ 7,937  $ (190,191)
OCI before reclassification   203  20,763    93  21,059 
Amounts reclassified from AOCI 742 
(a)
(203) (497)
(b)
42 
Net current-period OCI 945 
 
20,560 
 
(404)   21,101 
Balance, December 31, 2022 $ 6,127  $ (182,750)   $ 7,533    $ (169,090)
Attributable to noncontrolling interest:              
Balance, September 30, 2022   $ —  $ 255    $ —    $ 255 
OCI before reclassification   —    —   
Net current-period OCI   —    — 
Balance, December 31, 2022   $ —  $ 259    $ —  $ 259 

     Post-retirement benefit plans Currency translation adjustment Cash Flow Hedges Total
Attributable to Matthews:            
Balance, September 30, 2021   $ (35,930) $ (155,251)   $ (1,558) $ (192,739)
OCI before reclassification   10,718  (1,713)   875  9,880 
Amounts reclassified from AOCI 23,415 
(a)
(276) 606 
(b)
23,745 
Net current-period OCI   34,133  (1,989)   1,481  33,625 
Balance, December 31, 2021   $ (1,797) $ (157,240)   $ (77) $ (159,114)
Attributable to noncontrolling interest:            
Balance, September 30, 2021   $ —  $ 241    $ —  $ 241 
OCI before reclassification   — 
 
— 
Net current-period OCI   —    — 
Balance, December 31, 2021   $ —  $ 245 
 
$ —  $ 245 
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 11).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 8).
Note 12.   Accumulated Other Comprehensive Income (continued)

Reclassifications out of AOCI for the three-month periods ended December 31, 2022 and 2021 were as follows:
 
 
Details about AOCI Components
Three Months Ended December 31, 2022   Three Months Ended
December 31, 2021
Affected line item in the Statement of income
Postretirement benefit plans         
Prior service credit (a)
$ 91  $ 44   
Actuarial losses 187  (201) Other income (deductions), net
Settlement losses (1,271) (30,856) Other income (deductions), net
  (993) (31,013)
Income before income tax (b)
251 
 
7,598  Income taxes
  $ (742)
 
$ (23,415) Net income
Derivatives
 
    
Cash flow hedges $ 655 
 
$ (801) Interest expense
Net investment hedges 272  365  Interest expense
  927  (436)
Income before income tax (b)
  (227)
 
106  Income taxes
  $ 700    $ (330) Net income
(a) Prior service cost amounts are included in the computation of pension and other postretirement benefit expense, which is reported in both cost of goods sold and selling and administrative expenses. For additional information, see Note 11.
(b) For pre-tax items, positive amounts represent income and negative amounts represent expense.